2merkato

BEZEMA Dyes and Chemicals NBE PLC, a Swiss based chemical company, has opened the first bonded warehouse through the invitation of the Textile Industry Development Institute of Ethiopia to supply pigments, dyes and chemicals to textile factories in Ethiopia.

The Company's warehouse located in Jemo, Addis Ababa, seeks to relieve the shortage of pigments, dyestuff and chemicals encountered by the Ethiopian textile industry.

Ethiopia has launched the export of electric power to the Republic of Sudan. The corporation began test export four weeks ago along the Gadarif Galabat electric power transmission line according to Mihret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.

It is expected that the power transmission line will be inaugurated by Ethiopian Prime Minister Hailemariam Desalegn and Sudanese President Omar Albashir.

The transmission makes Sudan the second country after Djibouti to import power from Ethiopia.

The earnings that Ethiopia expects to receive from the export of spices, pulses and oilseeds are projected to increase by a third to an estimated 900 million US dollars in the current fiscal year.

The increase in revenue is related to incentives offered to investors in the sector including land for processing and warehousing and the waiving of duties related to import and export said Haile Berhe President of the Ethiopian Pulses, Oil Seeds and Spices Processors-Exporters Association.

The association is confident that the incentives will enable exporters to export as much as is made available he added.

The Ethiopian oilseeds, spices and pulses export sector has registered a revenue growth of 31 percent. Export from the sector has grown from 539 thousand tons to 608 thousand tons in the previous financial year resulting in corresponding increasing in revenue from 506.2 million US dollars to 663.6 million US dollars.

The Ethiopian oilseeds, pulses and spices export sector is showing steady growth alongside other exports according to Kebede Chane, Minister for Trade. The ministry anticipates that overall revenue from export revenue will reach 10.4 billion US dollars by the end of the development program he noted.

It is to be remembered that the country earned 470 million US dollars from the export sector in the previous sector with the oilseeds sector recording the best performance. The Ministry of trade plans to increase the revenue earned in the current fiscal year to 626 million US dollars.